| Cayman Islands | ADGM | Delaware |
How much does it cost? | Incorporation fee: USD 3,250 Renewal fee: USD 2,990 | Incorporation fee: USD 3,250 Renewal fee: USD 3,195
| Incorporation fee: USD 499 Renewal fee: USD 748 |
How long does it take? | 5 – 7 working days | 5 - 7 working days | 1 - 2 working days |
What is the process? | Online incorporation on the Clara platform. Purchase the formation package and submit the KYC documents on Clara. | Online incorporation on the Clara platform. Purchase the formation package and submit the KYC documents on Clara. | Online incorporation on the Clara platform. Submit the company information and purchase the formation package. |
Is my company required to carry out certain activities to demonstrate economic substance? | Yes - click here to read more. | Yes - click here to read more. | No |
What are the tax considerations? | Tax free jurisdiction | Tax free jurisdiction | Taxes apply.
No state tax other than the annual franchise tax. You could be subject to federal taxes on income, dividends and upon a sale.
Always seek legal and tax advice to understand any consequences of setting up in Delaware. |
Am I required to have a director who is a resident in the jurisdiction? | No | No. However a UAE resident or GCC National is required to be appointed as an Authorised Signatory. A nominee can be appointed. | No |
Are multiple classes of shares allowed? | Yes | Yes | Yes
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Are there restrictions on shareholders or capital? | None | None | None |
Other points to consider | All companies in the Cayman Islands renew on 31 December regardless of the date of incorporation. | Opening a bank account in the UAE requires a UAE identity card with the exception of some digital banking providers | May need to obtain a Tax ID number.
There are annual fees and tax due on 1 March every year. |
Updated over a week ago